(RTTNews) – Radian Group Inc. (RDN) provided an update on strategic actions. It has eliminated the position of president of the Services business. As a result, Jeff Tennyson will step down from the role effective immediately.
On October 16, 2017, Radian entered into a three-year, $225 million unsecured revolving credit facility with a panel of banks led by Royal Bank of Canada and U.S. Bank. Borrowings under the credit facility may be used for working capital and general corporate purposes, including, without limitation, capital contributions to Radian’s insurance and reinsurance subsidiaries as well as growth initiatives. Terms of the credit facility include an option to increase the capacity during the term of the agreem…
Read the full article at: http://markets.businessinsider.com/news/stocks/Radian-Group-Eliminates-Position-Of-President-Of-Services-Business-1004756440